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Facebook buying Titan Aerospace for about $60 million: Source

Titan Aerospace Solara 50
Source: Titan Aerospace
Titan Aerospace Solara 50

Facebook will buy drone maker Titan Aerospace for about $60 million, a source familiar with the situation told CNBC on Tuesday.

The solar-powered drones can reportedly be airborne for up to five years without having to land.

The deal is part of Facebook's ambition to provide Internet access worldwide. News of a possible deal was first reported by TechCrunch.

Last summer, Mark Zuckerberg announced a project called Internet.org—a partnership with a number of other tech giants that aims to make Internet available to everyone in the world. The solar-powered drones could help Facebook provide Internet to areas around the world without it, starting with Africa.

Titan Aerospace is privately held, and is based in New Mexico. The news comes after the social network acquired messaging app WhatsApp for $19 billion last month.

—Writing by CNBC.com staff. Reporting contributed by Brian Sullvan.

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